Finnish injection moulding group Perlos (Vantaa; www.perlos.com) and Swedish private equity group Ratos (Stockholm; www.ratos.se) plan to establish a new company to manufacture products for the medical sector. Under a recently signed memorandum of understanding, all current assets of Perlos´ healthcare business unit, with annual sales of EUR 52.6m, some 500 employees and production facilities in Kontiolahti / Finland and Sunderland / UK, will be transferred to the new company at a price of EUR 67m. The deal is due to be completed in the third quarter of 2006.

Perlos said the intent is to create a global healthcare player, "through both organic growth and acquisitions." Ratos will control around 78% of the new company, with Perlos contributing up to EUR 9m for a shareholding of around 20%. Acting management of its healthcare business unit, headed by Jouni Pohjonen, will acquire 2%. No staff changes are planned, and all employment agreements and benefits will transfer.

With its core businesses of telecommunications and electronics growing rapidly, the injection moulding group said it does not have sufficient resources to invest in the further development opportunities of the healthcare business. The deal with the financially potent Ratos – which also holds a stake in Danish injection-moulded packaging manufacturer Superfos – will enable the healthcare unit to implement its growth strategy, said Perlos CEO and president, Isto Hantila.